Transcription of UNIT 2 Microeconomics SAMPLE QUESTIONS MULTIPLE-CHOICE
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UNIT 2 Microeconomics SAMPLE QUESTIONS MULTIPLE-CHOICE
Advanced Placement Economics Microeconomics : Student Activities National Council on economic Education, New York, the letter of each correct A downward sloping demand curve can beexplained marginal marginal the substitution the income effect.(A) I only (B) II only (C) I and III only(D) I and IV only(E) I, III and IV only2. Which of the following will notchange thedemand for oranges?(A) A change in consumers incomes(B) A change in the price of grapefruits, a sub-stitute for oranges(C) A change in the price of oranges(D) A change in consumers taste for oranges(E) An expectation that the price of orangeswill increase in the future3. If there is an increase in demand for a good,what will most likely happen to the price andquantity of the good exchanged?PriceQuantity(A) No change No change (B) IncreaseIncrease(C) IncreaseDecrease (D) DecreaseIncrease (E) DecreaseDecrease4.
Advanced Placement Economics Microeconomics: Student Activities ' National Council on Economic Education, New York, N.Y. 111 Circle the letter of each correct answer. 1. A downward sloping demand curve can be ... Sample Multiple-Choice Questions 2 Microeconomics SAMPLE QUESTIONS MULTIPLE-CHOICE
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